Gamification Market to Grow at 48% During 2015-2019 Worldwide

The global gamification market report says one of the major drives of the market is need to improve customer interaction. This market is expected to witness exponential growth during the forecast period and is envisaged to post a profound market growth rate of more than 48% by 2019. Customers’ purchasing behavior information is important for marketing professionals to design strategies for effective consumer engagement. To implement competitive strategies and reduce cycle time, customer interaction is important for the growth of the market.

The increased importance of social media is one of the major trends. Social networks are going to be the next marketing platform to which many organizations would like to move. Therefore, the market is witnessing the integration of social networks with gamification applications, which is contributing to the growth of the global gamification market.

They market research analysts envisage the Americas to account for more than 52% of the total market share by 2019. High market share of this region can be attributed to its high adoption rate of gamification applications. As gamification allows companies to gain a competitive edge over their rivals, an increase in their investments will augment gamification market growth during the forecast period.

In the global gamification market research report, the analyst has estimated the enterprise-driven applications segment to account for approximately 68% of the total revenue generated by this market during the forecast period. The increased awareness of gamification products and benefits is a critical factor that accounts for this segment’s high revenue generating capacity during the forecast period.

The enterprises segment is envisaged to account for the largest market share during the forecast period. This segment is expected to account for close to 30% of the total market share by 2019 as increasing number of corporates find value proposition in deploying a gamification technique best suited for their business model.

Competitive Landscape and Key Vendors

Since this market is still in its nascent stage, it offers tremendous growth opportunities to vendors during the forecast period. The scope for new entrants is high in this market as it is still in its growth stage, and there are many opportunities to improve the products. Additionally, the demand in developed countries is high because of the existence of numerous enterprises in need of gamification solutions.

Further, the gamification market report states that one of the major challenges that hinders the market growth is the difficulty in selecting the right solution. Gamification techniques are only helpful if they are properly customized according to a customer’s requirements.